AAVE/ U.S. dollar(AAVEUSD)ADAUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: Wave Cancel invalid level:AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:Details: The ongoing corrective phase (Wave IV) is respecting the parallel trend channel. A breakout above the $349 bullish level confirms the start of Wave V, leading the price higher. Traders should watch for:Trading strategies* Buy Strategy (Long Position): * Wait for a price pullback to look for an opportunity to join the uptrend.* Risk Management: * W.C. Invalid: 192.993 (support level that if price breaks below, this Elliott Wave structure will be incomplete)
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Elliott Wave Forecast: S&P 500, Nasdaq 100, DAX 40, FTSE 100 & ASX 200
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